Kinross Gold Co. (NYSE:KGC – Get Rating) (TSE:K) – Equities research analysts at National Bank Financial issued their Q2 2022 EPS estimates for Kinross Gold in a report released on Wednesday, July 20th. National Bank Financial analyst M. Parkin expects that the mining company will post earnings of $0.06 per share for the quarter. The consensus estimate for Kinross Gold’s current full-year earnings is $0.47 per share. National Bank Financial also issued estimates for Kinross Gold’s FY2023 earnings at $0.48 EPS.
Kinross Gold (NYSE:KGC – Get Rating) (TSE:K) last posted its quarterly earnings data on Tuesday, May 10th. The mining company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). Kinross Gold had a negative net margin of 12.88% and a positive return on equity of 6.27%. The firm had revenue of $768.00 million for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm earned $0.15 EPS. The company’s revenue was down .1% on a year-over-year basis.
A number of other research analysts have also recently commented on KGC. Royal Bank of Canada cut shares of Kinross Gold from an “outperform” rating to a “sector perform” rating and set a $6.00 price target on the stock. in a report on Wednesday, April 20th. BMO Capital Markets upped their price target on shares of Kinross Gold from $7.00 to $7.50 and gave the stock an “outperform” rating in a report on Thursday, June 30th. Raymond James set a $7.50 price target on shares of Kinross Gold and gave the stock an “outperform” rating in a report on Thursday, May 12th. Stifel Nicolaus cut their price target on shares of Kinross Gold from C$11.00 to C$10.00 in a report on Wednesday. Finally, StockNews.com cut shares of Kinross Gold from a “hold” rating to a “sell” rating in a report on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.92.
Kinross Gold Trading Up 0.9 %
KGC stock opened at $3.25 on Friday. The company has a current ratio of 3.31, a quick ratio of 1.73 and a debt-to-equity ratio of 0.42. Kinross Gold has a twelve month low of $3.00 and a twelve month high of $7.13. The firm’s fifty day simple moving average is $4.01 and its two-hundred day simple moving average is $5.01.
Institutional Trading of Kinross Gold
Several hedge funds have recently modified their holdings of KGC. Ruffer LLP lifted its position in shares of Kinross Gold by 43.3% during the fourth quarter. Ruffer LLP now owns 59,308,657 shares of the mining company’s stock valued at $337,482,000 after buying an additional 17,917,522 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Kinross Gold by 17.6% during the first quarter. Van ECK Associates Corp now owns 85,604,507 shares of the mining company’s stock valued at $503,350,000 after acquiring an additional 12,805,313 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Kinross Gold by 374.2% during the first quarter. 1832 Asset Management L.P. now owns 11,766,352 shares of the mining company’s stock valued at $68,230,000 after acquiring an additional 9,285,284 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Kinross Gold by 183.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,827,052 shares of the mining company’s stock valued at $80,294,000 after acquiring an additional 8,950,090 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Kinross Gold by 589.9% during the first quarter. Assenagon Asset Management S.A. now owns 6,697,119 shares of the mining company’s stock valued at $39,379,000 after acquiring an additional 5,726,419 shares in the last quarter. 56.58% of the stock is owned by hedge funds and other institutional investors.
Kinross Gold Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Thursday, June 2nd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Wednesday, June 1st. Kinross Gold’s payout ratio is -33.33%.
About Kinross Gold
Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, the Russian Federation, Brazil, Chile, Ghana, and Mauritania. It is also involved in the extraction and processing of gold-containing ores; reclamation of gold mining properties; and production and sale of silver.
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